Billions
for the Bankers, Debt for the PeopleThe
Real Story of the Money-Control Over America

-taken
from an essay by Sheldon Emry

"If the
American people ever allow private banks to control the issue of their
money, first by inflation and then by deflation, the banks and corporations
that will grow up around them (around the banks), will deprive the people
of their property until their children will wake up homeless on the continent
their fathers conquered." Thomas
Jefferson

Americans, living in what is called
the richest nation on earth, seem always to be short of money. Wives are
working in unprecedented numbers, husbands hope for overtime hours to earn
more, or take part-time jobs evenings and weekends, children look for odd
jobs for spending money, the family debt climbs higher, and psychologists
say one of the biggest causes of family quarrels and breakups is "arguments
over money." Much of this trouble can be traced to our present "debt-money"
system. Too few Americans realize why our founding fathers wrote into Article
I of the U.S. Constitution: Congress shall have the Power to Coin Money
and Regulate the Value Thereof.

They did this, as we will show,
in prayerful hope it would prevent "love of money" from destroying the
Republic they had founded. We shall see how subversion of Article I has
brought upon us the horrors of which Jefferson had warned.

MONEY IS MAN'S ONLY "CREATION" Economists use the term "create"
when speaking of the process by which money comes into existence. Now,
creation means making something that did not exist before. Lumbermen make
boards from trees, workers build houses from lumber, and factories manufacture
automobiles from metal, glass and other materials. But in all these they
did not "create," they only changed existing materials into a more usable
and, therefore, more valuable form. This is not so with money. Here, and
here alone, man actually "creates" something out of nothing. A piece of
paper of little value is printed so that it is worth a piece of lumber.
With different figures it can buy the automobile or even the house. Its
value has been "created" in the true meaning of the word

MONEY "CREATING" PROFITABLEAs is seen by the above, money
is very cheap to make, and whoever does the "creating" of money in a nation
can make a tremendous profit! Builders work hard to make a profit of 5%
above their cost to build a house.

Auto makers sell their cars
for 1% to 2% above the cost of manufacture and it is considered good business.
But money "manufacturers" have no limit on their profits, since a few cents
will print a $1 bill or a $10,000 bill.

That profit is part of our
story, but first let us consider another unique characteristic of the thing
- money, the love of which is the "root of all evil."

ADEQUATE MONEY SUPPLY NEEDEDAn adequate supply of money
is indispensable to civilized society. We could forego many other things,
but without money industry would grind to a halt, farms would become only
self-sustaining units, surplus food would disappear, jobs requiring the
work of more than one man or one family would remain undone, shipping,
and large movements of goods would cease, hungry people would plunder and
kill to remain alive, and all government except family or tribe would cease
to function.

An overstatement, you say?
Not at all. Money is the blood of civilized society, the means of all commercial
trade except simple barter. It is the measure and the instrument by which
one product is sold and another purchased. Remove money or even reduce
the supply below that which is necessary to carry on current levels of
trade, and the results are catastrophic. For an example, we need only look
at America's Depression of the early 1930's.

THE BANKERS DEPRESSION OF
THE 1930'sIn 1930 America did not lack
industrial capacity, fertile-farm land, skilled and willing workers or
industrious farm families. It had an extensive and highly efficient transportation
system in railroads, road networks, and inland and ocean waterways. Communications
between regions and localities were the best in the world, utilizing telephone,
teletype, radio, and a well-operated government mail system. No war had
ravaged the cities or the countryside, no pestilence weakened the population,
nor had famine stalked the land. The United States of America in 1930 lacked
only one thing: an adequate supply of money to carry on trade and commerce.
In the early 1930's, Bankers, the only source of new money and credit,
deliberately refused loans to industries, stores and farms.

Payments on existing loans
were required however, and money rapidly disappeared from circulation.
Goods were available to be purchased, jobs waiting to be done, but the
lack of money brought the nation to a standstill. By this simple ploy America
was put in a "depression" and the greedy Bankers took possession of hundreds
of thousands of farms, homes, and business properties. The people were
told, "times are hard," and "money is short." Not understanding the system,
they were cruelly robbed of their earnings, their savings, and their property.

MONEY FOR PEACE? NO! MONEY
FOR WAR? YES!World War II ended the "depression."
The same Bankers who in the early 30's had no loans for peacetime houses,
food and clothing, suddenly had unlimited billions to lend for Army barracks,
K-rations and uniforms! A nation that in 1934 couldn't produce food for
sale, suddenly could produce bombs to send free to Germany and Japan! (More
on this riddle later.)

With the sudden increase in
money, people were hired, farms sold their produce, factories went to two
shifts, mines re-opened, and "The Great Depression" was over! Some politicians
were blamed for it and others took credit for ending it. The truth is the
lack of money (caused by the Bankers) brought on the depression, and adequate
money ended it. The people were never told that simple truth and in this
article we will endeavor to show how these same Bankers who control our
money and credit have used their control to plunder America and place us
in bondage.

POWER TO COIN AND REGULATE
MONEYWhen we can see the disastrous
results of an artificially created shortage of money, we can better understand
why our Founding Fathers insisted on placing the power to "create" money
and the power to control it ONLY in the hands of the Federal Congress.
They believed that ALL citizens should share in the profits of its "creation"
and therefore the national government must be the ONLY creator of money.
They further believed that ALL citizens, of whatever State or Territory,
or station in life would benefit by an adequate and stable currency and
therefore, the national government must also be, by law, the ONLY controller
of the value of money.

Since the Federal Congress
was the only legislative body subject to all the citizens at the ballot
box, it was, to their minds, the only safe depository of so much profit
and so much power. They wrote it out in the simple, but all-inclusive:
"Congress shall have the Power to Coin Money and Regulate the Value Thereof."

HOW THE PEOPLE LOST CONTROL
TO THE FEDERAL RESERVE Instead of the Constitutional
method of creating our money and putting it into circulation, we now have
an entirely unconstitutional system. This has resulted in almost disastrous
conditions, as we shall see.

Since our money was handled
both legally and illegally before 1913, we shall consider only the years
following 1913, since from that year on, ALL of our money has been created
and issued by an illegal method that will eventually destroy the United
States if it is not changed. Prior to 1913, America was a prosperous, powerful,
and growing nation, at peace with its neighbors and the envy of the world.
But - in December of 1913, Congress, with many members away for the Christmas
holidays, passed what has since been known as the FEDERAL RESERVE ACT.
(For the full story of how this infamous legislation was forced through
our Congress, read The
Creature from Jekyll Island, by G. Edward Griffin or Conquest
or Consent, by W. B. Vennard). Omitting the burdensome details,
it simply authorized the establishment of a Federal Reserve Corporation,
with a Board of Directors (The Federal Reserve Board) to run it, and the
United States was divided into 12 Federal Reserve "Districts."

This simple, but terrible,
law completely removed from Congress the right to "create" money or to
have any control over its "creation," and gave that function to the Federal
Reserve Corporation. This was done with appropriate fanfare and propaganda
that this would "remove money from politics" (they didn't say "and therefore
from the people's control") and prevent "Boom and Bust" from hurting our
citizens. The people were not told then, and most still do not know today,
that the Federal Reserve Corporation is a private corporation controlled
by bankers and therefore is operated for the financial gain of the bankers
over the people rather than for the good of the people. The word "Federal"
was used only to deceive the people.

MORE DISASTROUS THAN PEARL
HARBORSince that "day of infamy,"
more disastrous to us than Pearl Harbor, the small group of "privileged"
people who lend us "our" money have accrued to themselves all of the profits
of printing our money' - and more! Since 1913 they have "created" tens
of billions of dollars in money and credit, which, as their own personal
property, they then lend to our government and our people at interest.
"The rich get richer and the poor get poorer" had become the secret policy
of our National Government. An example of the process of "creation" and
its conversion to people's "debt" will aid our understanding.

THEY PRINT IT - WE BORROW
IT AND PAY THEM INTERESTWe shall start with the need
for money. The Federal Government, having spent more than it has taken
from its citizens in taxes, needs, for the sake of illustration, $1,000,000,000.
Since it does not have the money, and Congress has given away its authority
to "create" it, the Government must go the "creators" for the $1 billion.
But, the Federal Reserve, a private corporation, doesn't just give its
money away! The Bankers are willing to deliver $1,000,000,000 in money
or credit to the Federal Government in exchange for the Government's agreement
to pay it back - with interest! So Congress authorizes the Treasury Department
to print $1,000,000,000 in U.S. Bonds, which are then delivered to the
Federal Reserve Bankers.

The Federal Reserve then pays
the cost of printing the $1,000,000,000 (about $1,000) and makes the exchange.
The Government then uses the money to pay its obligations. What are the
results of this fantastic transaction? Well, $1 billion in Government bills
are paid all right, but the Government has now indebted the people to the
Bankers for $1 billion on which the people must pay interest! Tens of thousands
of such transactions have taken place since 1913 so that by the 1980's,
the U.S. Government is indebted. to the Bankers for over $1,000,000,000,000
(trillion) on which the people pay over $100 billion a year in interest
alone with no hope of ever paying off the principal. Supposedly our children
and following generations will pay forever and forever!

AND THERE'S MOREYou say, "This is terrible!"
Yes, it is, but we have shown only part of the sordid story. Under this
unholy system, those United States Bonds have now become "assets" of the
Banks in the Reserve System which they then use as "reserves" to "create"
more "credit" to lend. Current "fractional reserve" requirements allow
them to use that $1 billion in bonds to "create" as much as $15 billion
in new "credit" to lend to States, Municipalities, to individuals and businesses.
Added to the original $1 billion, they could have $16 billion of "created
credit" out in loans paying them interest with their only cost being $1,000
for printing the original $1 billion! Since the U.S. Congress has not issued
Constitutional money since 1863 (over 100 years), in order for the people
to have money to carry on trade and commerce they are forced to borrow
the "created credit" of the Monopoly Bankers and pay them usury-interest!

AND THERE'S STILL MOREIn addition to the vast wealth
drawn to them through this almost unlimited usury, the Bankers who control
the money at the top are able to approve or disapprove large loans to large
and successful corporations to the extent that refusal of a loan will bring
about a reduction in the price that that Corporation's stock sells for
on the market. After depressing the price, the Bankers' agents buy large
blocks of the stock, after which the sometimes multi-million dollar loan
is approved, the stock rises, and is then sold for a profit. In this manner
billions of dollars are made with which to buy more stock. This practice
is so refined today that the Federal Reserve Board need only announce to
the newspapers an increase or decrease in their "rediscount rate" to send
stocks up and down as they wish. Using this method since 1913, the Bankers
and their agents have purchased secret or open control of almost every
large corporation in America. Using that control, they then force the corporations
to borrow huge sums from their banks so that corporation earnings are siphoned
off in the form of interest to the banks. This leaves little as actual
"profits" which can be paid as dividends and explains why stock prices
are often depressed, while the banks reap billions in interest from corporate
loans. In effect, the bankers get almost all of the profits, while individual
stockholders are left holding the bag.

The millions of working families
of America are now indebted to the few thousand Banking Families for twice
the assessed value of the entire United States. And these Banking Families
obtained that debt against us for the cost of paper, ink, and bookkeeping!

THE INTEREST AMOUNT IS NEVER
CREATEDThe only way new money (which
is not true money, but is "credit" representing a debt), goes into circulation
in America is when it is borrowed from Bankers. When the State and people
borrow large sums, we seem to prosper. However, the Bankers "create" only
the amount of the principal of each loan, never the extra amount needed
to pay the interest. Therefore. the new money never equals the new debt
added. The amounts needed to pay the interest on loans is not "created,"
and therefore does not exist!

Under this kind of a system,
where new debt always exceeds the new money no matter how much or how little
is borrowed, the total debt increasingly outstrips the amount of money
available to pay the debt. The people can never, ever get out of debt!

An example will show the viciousness
of this usury-debt system with its "built-in" shortage of money.

IF $60,000 IS BORROWED,
$255,931.20 MUST BE PAID BACK When a citizen goes to a Banker to borrow
$60,000 to purchase a home or a farm, the Bank clerk has the borrower agree
to pay back the loan plus interest. At 14% interest for 30 years, the Borrower
must agree to pay $710.92 per month for a total of $255,931.20. The clerk
then requires the citizen to assign to the Banker the right of ownership
of the property if the Borrower does not make the required payments. The
Bank clerk then gives the Borrower a $60,000 check or a $60,000 deposit
slip crediting the Borrower's checking account with $60,000.

The Borrower then writes checks
to the builder, subcontractors, etc., who in turn write checks. $60,000
of new "checkbook" money is thereby added to "money in circulation."

However, and this is the fatal
flaw in a usury system, the only new money created and put into circulation
is the amount of the loan, $60,000. The money to pay the interest is NOT
created, and therefore was NOT added to "money in circulation."

Even so, this Borrower (and
those who follow him in ownership of the property) must earn and TAKE OUT
OF CIRCULATION $255,931, almost $200,000 MORE than he put IN CIRCULATION
when he borrowed the original $60,000! (By the way, it is this interest
which cheats all families out of nicer homes. It is not that they can't
afford them; it is because the Banker's usury forces them to pay for 4
homes to get one!)

Every new loan puts the same
process in operation. Each borrower adds a small sum to the total money
supply when he borrows, but the payments on the loan (because of interest)
then deduct a much LARGER sum from the total money supply.

There is therefore no way all
debtors can pay off the money-lenders. As they pay the principal and interest,
the money in circulation disappears. All they can do is struggle against
each other, borrowing more and more from the money-lenders each generation.
The money-lenders (Bankers), who produce nothing of value, slowly, then
more rapidly, gain a death grip on the land, buildings, and present and
future earnings of the whole working population.

SMALL LOANS DO THE SAME
THING If you haven't quite grasped
the impact of the above, let us consider a small auto loan for 3 years
at 18% interest. Step 1: Citizen borrows $5,000 and pays it into circulation
(it goes to the dealer, factory, miner, etc.) and signs a note agreeing
to pay the Banker $6,500. Step 2: Citizen pays $180 per month of his earnings
to the Banker. In 3 years he will take OUT of circulation $1,500 more than
he put IN circulation.

Every loan of Banker "created"
money (credit) causes the same thing to happen. Since this has happened
millions of times since 1913 (and continues today), you can see why America
has gone from a prosperous, debt-free nation to a debt-ridden nation where
practically every home, farm and business is paying usury-tribute to some
Banker. The usury-tribute to the Bankers on personal, local, State and
Federal debt totals more than the combined earnings of 25% of the working
people. Soon it will be 50% and continue up.

THIS IS WHY BANKERS PROSPER
IN GOOD TIMES OR BAD In the millions of transactions
made each year like those above, little actual currency changes hands,
nor is it necessary that it do so. 95% of all "cash" transactions in the
U.S. are by check, so the Banker is perfectly safe in "creating" that so-called
"loan" by writing the check or deposit slip, not against actual money,
but AGAINST YOUR PROMISE TO PAY IT BACK! The cost to him is paper, ink
and a few dollars in salaries and office costs for each transaction. It
is "check-kiting" on an enormous scale. The profits increase rapidly, year
after year, as shown below.

These are a few taken from
Arizona newspapers in January, 1979.

Valley Bank posts 49% gain in
profits

Gains of 49 percent in net
income and 51 percent in operating income were posted last year by Valley
National Bank.

Those gains brought net
income to $33,969,-000' in the year ended Dec..31 and operating income
to $34,459.000. The year before those totals were $22,836.000 and $22,807,000
respectively.

Bank's profits rise 21% Arizona Bank announced
on Monday it had achieved a 21.2 percent increase in net income in 1978
over 1977. On the basis of operating income, excluding the 1977 sale of
the Arizona Bank Building for $l,336,369, the bank said the increase was
43.9 percent.

Tostenrud said loans and
deposits increased in the last year: Deposits 18.8 percent to $1.353 billion
and loans 21.9 percent to $951 million.

THE COST TO YOU? EVENTUALLY,
EVERYTHING!In 1910 the U.S. Federal debt
was only $1 billion, or $12.40 per citizen. State and local debts were
practically non-existent.

By 1920, after only 6 years
of Federal Reserve shenanigans, the Federal debt had jumped to $24 billion,
or $226 per person.

In 1960 the Federal debt reached
$284 billion, or $1,575 per citizen and State and local debts were mushrooming.

By 1981 the Federal debt passed
$1 trillion and was growing exponentially as the Banker's tripled the interest
rates. State and local debts are now MORE than the Federal, and with business
and personal debts totaled over $6 trillion, 3 times the value of all land
and buildings in America.

If we signed over to the money-lenders
all of America we would still owe them 2 more Americas (plus their usury,
of course!)

However, they are too cunning
to take title to everything. They will instead leave you with some "illusion
of ownership" so you and your children will continue to work and pay the
Bankers more of your earnings on ever-increasing debts. The "establishment"
has captured our people with their ungodly system of usury and debt as
certainly as if they had marched in with a uniformed army.

FOR THE GAMBLERS AMONG MY
READERSTo grasp the truth that periodic
withdrawal of money through interest payments will inexorably transfer
all wealth in the nation to the receiver of interest, imagine yourself
in a poker or dice game where everyone must buy the chips (the medium of
exchange) from a "banker" who does not risk chips in the game, but watches
the table and every hour reaches in and takes 10% to 15% of all the chips
on the table. As the game goes on, the amount of chips in the possession
of each player will go up and down with his "luck."

However, the TOTAL number of
chips available to play the game (carry on trade and business) will decrease
rapidly.

The game will get low on chips,
and some will run out. If they want to continue to play, they must buy
or borrow them from the "banker." The "banker" will sell (lend) them ONLY
if the player signs a "mortgage" agreeing to give the "banker" some real
property (car, home, farm, business, etc.) if he cannot make periodic payments
to pay back all of the chips plus some EXTRA ones (interest). The payments
must be made on time, whether he wins (makes a profit) or not.

It is easy to see that no matter
how skillfully they play, eventually the "banker" will end up with all
of his original chips back, and except for the very best players, the rest,
if they stay in long enough, will lose to the "banker" their homes, their
farms, their businesses, perhaps even their cars, watches, rings, and the
shirts off their backs!

Our real-life situation is
MUCH WORSE than any poker game. In a poker game none is forced to go into
debt, and anyone can quit at any time and keep whatever he still has. But
in real life, even if we borrow little ourselves from the Bankers, the
local, State, and Federal governments borrow billions in our name, squander
it, then confiscate our earnings from us and pay it back to the Bankers
with interest. We are forced to play the game, and none can leave except
by death. We pay as long as we live, and our children pay after we die.
If we cannot pay, the same government sends the police to take our property
and give it to the Bankers. The Bankers risk nothing in the game; they
just collect their percentage and "win it all." In Las Vegas and at other
gambling centers, all games are "rigged" to pay the owner a percentage,
and they rake in millions. The Federal Reserve Bankers' "game" is also
rigged, and it pays off in billions!

In recent years Bankers added
real "cards" to their 'game. "Credit" cards are promoted as a convenience
and a great boon to trade. Actually, they are ingenious devices by which
Bankers collect 2% to 5% of every retail sale from the seller and 18% interest
from buyers. A real "stacked" deck!

YES, IT'S POLITICAL, TOO!Democrat, Republican, and
Independent voters who have wondered why politicians always spend more
tax money than they take in should now see the reason. When they begin
to study our "debt-money" system, they soon realize that these politicians
are not the agents of the people but are the agents of the Bankers, for
whom they plan ways to place the people further-in debt. It takes only
a little imagination to see that if Congress had been "creating," and spending
or issuing into circulation the necessary increase in the money supply,
THERE WOULD BE NO NATIONAL DEBT, and the over $4 Trillion of other debts
would be practically non-existent. Since there would be no ORIGINAL cost
of money except printing, and no CONTINUING costs such as interest, Federal
taxes would be almost nil. Money, once in circulation, would remain there
and go on serving its purpose as a medium of exchange for generation after
generation and century after century, just as coins do now, with NO payments
to the Bankers whatever!

MOUNTING DEBTS AND WARS But instead of peace and debt-free
prosperity, we have ever-mounting debt and periodic wars. We as a people
are now ruled by a system of Banker-owned Mammon that has usurped the mantle
of government, disguised itself as our legitimate government, and set about
to pauperize and control our people. It is now a centralized, all-powerful
political apparatus whose main purposes are promoting war, spending the
peoples' money, and propagandizing to perpetuate itself in power. Our two
large political parties have become its servants, the various departments
of government its spending agencies, and the Internal Revenue its collection
agency.

Unknown to the people, it operates
in close cooperation with similar apparatuses in other nations. which are
also disguised as "governments." Some, we are told, are friends. Some,
we are told, are enemies. "Enemies" are built up through international
manipulations and used to frighten the American people into going billions
of dollars more into debt to the Bankers for "military preparedness," "foreign
aid to stop communism," "minority rights," etc. Citizens, deliberately
confused by brainwashing propaganda, watch helplessly while our politicians
give our food, goods, and money to Banker-controlled alien governments
under the guise of "better relations" and "easing tensions." Our Banker-controlled
government takes our finest and bravest sons and sends them into foreign
wars with obsolete equipment and inadequate training, where tens of thousands
are murdered, and hundreds of thousands are crippled. Other thousands are
morally corrupted, addicted to drugs, and infected with venereal and other
diseases, which they bring back to the United States. When the "war" is
over, we have gained nothing, but we are scores of billions of dollars
more in debt to the Bankers, which was the reason for the "war" in the
first place!

BUT WAIT... THERE'S STILL
MORE The profits from these massive
debts have been used to erect a complete and almost hidden economic and
political colossus over our nation. They keep telling us they are trying
to do us "good," when in truth they work to bring harm and injury to our
people. These would-be despots know it is easier to control and rob an
ill, poorly-educated and confused people than it is a healthy and intelligent
population, so they deliberately prevent real cures for diseases, they
degrade our educational systems, and they stir up social and racial unrest.
For the same reason they favor drug use, alcohol, sexual promiscuity, abortion,
pornography, and crime. Everything which debilitates the minds and bodies
of the people is secretly encouraged, as it makes the people less able
to oppose them or even to understand what is being done to them.

Family, morals, love of Country,
the Christian religion, all that is honorable is being swept away, while
they try to build their new, subservient man. Our new "rulers" are trying
to change our whole racial, social, religious, and political order, but
they will not change the debt-money economic system by which they rob and
rule. Our people have become tenants and "debt-slaves" to the Bankers and
their agents in the land our fathers conquered. It is conquest through
the most gigantic fraud and swindle in the history of mankind. And we remind
you again: The key to their wealth and power over us is their ability to
create "money" out of nothing and lend it to us at interest. If they had
not been allowed to do that, they would never have gained secret control
of our nation. "The rich ruleth over the poor, and the borrower is servant
to the lender" (Proverbs 22:7).

Let us now consider the correct
method of providing the medium of exchange (money) needed by our people.

INTEREST-FREE MONEYHistory tells us of debt-free
and interest-free money issued by governments. The American colonies did
it in the 1700's and their wealth soon rivaled England and brought restrictions
from Parliament, which led to the Revolutionary War. Abraham Lincoln did
it in 1863 to help finance the Civil War. He was later assassinated by
an agent of the Rothschild Bank. No debt-free or interest-free money has
been issued in America since then. Several Arab nations issue interest-free
loans to their citizens today. The Saracen Empire for bad interest on money
for 1,000 years, and its wealth outshone even Saxon Europe. Mandarin China
issued its own money, interest-free and debt-free, and historians and collectors
of art today consider those centuries to be China's time of greatest wealth,
culture and peace.

Germany issued debt-free and
interest-free money from 1935 and on, accounting for its startling rise
from the depression to a world power in 5 years. Germany financed its entire
government and war operation from 1935 to 1945 without debt, and it took
the whole Capitalist and Communist world to destroy the German power over
Europe and bring Europe back under the heel of the Bankers. Such history
of money does not even appear in the textbooks of public (government) schools
today.

Issuing money which doesn't
have to be paid back in interest leaves the money available to use in the
exchange of goods and services and its only continuing cost is replacement
as the paper wears out. Money is the paper ticket by which such transfers
are made and should always be in sufficient quantity to transfer all possible
production of the nation to ultimate consumers.

It is as ridiculous for a nation
to say to its citizens, "You must consume less because we are short of
money," as it would be for an Airline to say "Our planes are flying, but
we can't take you because we are short of tickets."

NO MORE BANKERS' PLUNDERUnder the present debt-usury
system, the extra burden of usury forces workers and businesses to demand
more money for the work and goods to pay their ever-increasing debts and
taxes. This increase in prices and wages is called "inflation." Bankers,
politicians and "economists" blame it on everything but the real cause,
which is the usury levied on money and debt by the Bankers. This "inflation"
benefits the money-lenders, since it wipes out savings of one generation
so they cannot finance or help the next generation, who must then borrow
from the money-lenders, and pay a large part of their life's labor to the
usurer.

With an adequate supply of
interest-free money, little borrowing would be required and prices would
be established by people and goods, not by debts and usury.

CITIZEN CONTROLIf the Federal Congress failed
to act, or acted wrongly, in the supply of money, the citizens would use
the ballot or recall petition to replace those who prevented correct action
with others whom the people believe would pursue a better money policy.
Since the creation of money and its issuance in sufficient quantity would
be one of the few functions of Congress, the voter could decide on a candidate
by his stand on money, instead of the hundreds of lesser, and deliberately
confusing, subjects which are presented to us today. And since money is,
and would remain, a national function, local differences or local factions
would not be able to sway the people from the nation's (citizens') interest.
All other problems, except the nation's defense, would be taken care of
in the State, County, or City governments where they are best handled and
most easily corrected.

An adequate national defense
would be provided by the same citizen-controlled Congress, and there would
be no Bankers behind the scenes, bribing politicians to give $200 billion
of American military equipment to other nations, disarming us, while alien
nations prepare to attack and invade the United States of America.

A DEBT-FREE AMERICA With debt-free and interest-free
money, there would be no high and confiscatory taxation, our homes would
be mortgage free with no $10,000-a-year payments to the Bankers, nor would
they get $1,000 to $2,500 per year from every automobile on our roads.
We would need no "easy payment" plans, "revolving" charge accounts, loans
to pay medical or hospital bills, loans to pay taxes, loans to pay for
burials, loans to pay loans, nor any of the thousand and one usury-bearing
loans which now suck the life-blood of American families. There would be
no unemployment, divorces caused by debt, destitute old people, or mounting
crime, and even the so-called "deprived" classes would be deprived of neither
job nor money to buy the necessities of life.

Criminals could not become
politicians, nor would politicians become criminals in the pay of the Money-lenders.
Our officials, at all government levels, would be working for the people
instead of devising means to spend more money to place us further in debt
to the Bankers. We would get out of the entangling foreign alliances that
have engulfed us in four major wars and scores of minor wars since the
Federal Reserve Act was passed, alliances which are now used to prevent
America from preparing her own defense in the face of mounting danger from
alien powers.

A debt-free America would mean
mothers would not have to work. With mother at home, juvenile delinquency
would decrease rapidly. The elimination of the usury and debt would be
the equivalent of a 50% raise in the purchasing power of every worker.
With this cancellation of all debts, the return to the people of all the
property and wealth the parasitic Bankers and their quasi-legal agents
have stolen by usury and fraud, and the ending of their theft of $300 Billion
(or more) every year from the people, America would be prosperous and powerful
beyond the wildest dreams of its citizens today. And we would be at peace!
(For a Bible example of cancellation of debts to money lenders and restoration
of property and money to the people, read Nehemiah 5: 1-13.)

WHY YOU HAVEN'T KNOWN We realize this small, and
necessarily incomplete, article on money may be charged with oversimplification.
Some may say that if it is that simple the people would have known about
it, and it could not have happened. But this MONEY-LENDERS' consPIRACY
is as old as Babylon, and even in America it dates far back before the
year 1913. Actually, 1913 may be considered the year in which their previous
plans came to fruition, and the way opened for complete economic conquest
of our people. The consPIRACY is old enough in America so that its agents
have been, for many years, in positions such as newspaper publishers, editors,
columnists, church ministers, university presidents, professors, textbook
writers, labor union leaders, movie makers, radio and TV commentators,
politicians from school board members to U.S. presidents, and many others.

CONTROLLED NEWS AND INFORMATION These agents control the information
available to our people. They manipulate public opinion, elect whom they
will locally and nationally, and never expose the crooked money system.
They promote school bonds, municipal bonds, expensive and detrimental farm
programs, "urban renewal," foreign aid, and many other schemes which will
put the people more into debt to the Bankers. Thoughtful citizens wonder
why billions are spent on one program and billions on another which may
duplicate it or even nullify it, such as paying some farmers not to raise
crops, while at the same time building dams or canals to irrigate more
farm land. Crazy or stupid? Neither. The goal is more debt. Thousand of
government-sponsored ways to waste money go on continually. Most make no
sense, but they are never exposed for what they really are, builders of
"billions for the bankers and debts for the people."

So-called "economic experts"
write syndicated columns in hundreds of newspapers, craftily designed to
prevent the people from learning the simple truth about our money system.
Commentators on radio and TV, preachers, educators, and politicians blame
the people as wasteful, lazy, or, spend-thrift, and blame the workers,
and consumers for the increase in debts and the inflation of prices, when
they know the cause is the debt-money system itself. Our people are literally
drowned in charges and counter-charges designed to confuse them and keep
them from understanding the unconstitutional and evil money-system that
is so efficiently and silently robbing the farmers, the workers, and the
businessmen of the fruits of their labors and of their freedoms.

When some few Patriotic people
or organizations who know the truth begin to expose them or try to stop
any of their mad schemes, they are ridiculed and smeared as "right-wing
extremists," "super-patriots," "ultra-rightists," "bigots," "racists,"
even "fascists" and "anti-Semites." Any name is used which will cause them
to shut up or will at least stop other people from listening to the warning
they are giving. Articles and books such as you are now reading are kept
out of schools, libraries, and book stores.

Some, who are especially vocal
in their exposure of the treason against our people, are harassed by government
agencies such as the EPA, OSHA, the IRS, and others, causing them financial
loss or bankruptcy. Using the above methods, they have been completely
successful in preventing most Americans from learning the things you have
read in this pamphlet. However, in spite of their control of information,
they realize many citizens are learning the truth. Therefore, to prevent
violence or armed resistance to their plunder of America, they plan to
register all firearms and eventually to disarm all citizens. They have
to eliminate most guns, except those in the hands of their government police
and army.

TELL THE PEOPLEThe "almost hidden" conspirators
in politics, religion, education, entertainment, and the news media are
working for a Banker-owned United States in a Banker-owned world under
a Banker-owned World Governments!

Love of Country and concern
for your children should make you deeply interested in this, America's
greatest problem, for our generation has not suffered under the "yoke"
as the coming generations will. Usury and taxes will continue to take a
larger and larger part of the annual earnings of the people and put them
into the pockets of the Bankers and their political Agents. Increasing
"government" regulations will prevent citizen protest and opposition to
their control. Is it possible that your grandchildren will own neither
home nor car, but will live in "government-owned" apartments and ride to
work in "government-owned" buses (both paying usury to the Bankers), AND
BE ALLOWED TO KEEP JUST ENOUGH OF THEIR EARNINGS TO BUY A MINIMUM OF FOOD
AND CLOTHING while their Rulers wallow in luxury? In Asia and eastern Europe
it is called "communism;" in America it is called "Democracy" and "Capitalism."

America will not shake off
her Banker-controlled dictatorship as long as the people are ignorant of
the hidden controllers. International financiers, who control most of the
governments of the nations, and most sources of information, seem to have
us completely within their grasp. They are afraid of only one thing: an
awakened Patriotic Citizenry, armed with the truth, and with a trust, in
Almighty God for deliverance. This article has given you the truth about
their iniquitous system. What you do with it is in your hands.

AUDIT THE FEDERAL RESERVE
SYSTEM? The Federal Reserve has never
been audited by the government since it took over our money and credit
in 1913. In 1975 a bill, H.R. 4316, to require an audit was introduced
in Congress.

During the April, 1975 hearings,
this author submitted a statement favoring the audit, as did many others.
Due to pressure from the money controllers, it was not passed. No audit
of the Fed has ever been made.

WHY HAVEN'T THEY TOLD YOU?Why haven't they told you
about this scandal - the greatest fraud in history which has caused Americans
and others to spill oceans of blood, pay trillions of dollars interest
on fraudulent loans and burden themselves with unnecessary taxes?

Who are "they"? "They" are
most of the politicians of the two old parties and elected officials. Most
"educational" groups like the League of Women Voters, the Heritage Foundation
and the American Civil Liberties Union (ACLU). All mainstream news services,
such as the Associated Press and the United Press International. All mainstream
daily newspapers, including the New York Times and Los
Angeles Times. All mainstream weekly "news" magazines, such as
"Time" and "Newsweek." All of the above and more have been hiding the truth
from you.

WHAT SOME FAMOUS MEN HAVE
SAID ABOUT THE MONEY QUESTION

ALAN GREENSPAN: "In
the absence of the gold standard, there is no way to protect savings from
confiscation through inflation. ... This is the shabby secret of the welfare
statists' tirades against gold. Deficit spending is simply a scheme for
the confiscation of wealth. Gold stands in the way of this insidious process.
It stands as a protector of property rights. If one grasps this, one has
no difficulty in understanding the statists' antagonism toward the gold
standard."

PRESIDENT THOMAS JEFFERSON:
"The system of banking [is] a blot left in all our Constitutions, which,
if not covered, will end in their destruction... I sincerely believe that
banking institutions are more dangerous than standing armies; and that
the principle of spending money to be paid by posterity... is but swindling
futurity on a large scale."

PRESIDENT JAMES A. GARFIELD:
"Whoever controls the volume of money in any country is absolute master
of all industry and commerce".

CONGRESSMAN LOUIS McFADDEN:
"The Federal Reserve (Banks) are one of the most corrupt institutions the
world has ever seen. There is not a man within the sound of my voice who
does not know that this Nation is run by the International Bankers".

HORACE GREELEY: "While boasting
of our noble deeds were careful to conceal the ugly fact that by an iniquitous
money system we have nationalized a system of oppression which, though
more refined, is not less cruel than the old system of chattel slavery.

THOMAS A. EDISON: "People who
will not turn a shovel full of dirt on the project (Muscle Shoals Dam)
nor contribute a pound of material, will collect more money from the United
States than will the People who supply all the material and do all the
work. This is the terrible thing about interest ...But here is the point:
If the Nation can issue a dollar bond it can issue a dollar bill. The element
that makes the bond good makes the bill good also. The difference between
the bond and the bill is that the bond lets the money broker collect twice
the amount of the bond and an additional 20%. Whereas the currency, the
honest sort provided by the Constitution pays nobody but those who contribute
in some useful way. It is absurd to say our Country can issue bonds and
cannot issue currency. Both are promises to pay, but one fattens the usurer
and the other helps the People."

PRESIDENT WOODROW WILSON: "A
great industrial Nation is controlled by its system of credit. Our system
of credit is concentrated. The growth of the Nation and all our activities
are in the hands of a few men. We have come to be one of the worst ruled,
one of the most completely controlled and dominated Governments in the
world - no longer a Government of free opinion no longer a Government by
conviction and vote of the majority, but a Government by the opinion and
duress of small groups of dominant men". (Just before he died, Wilson is
reported to have stated to friends that he had been "deceived" and that
"I have betrayed my Country". He referred to the Federal Reserve Act passed
during his Presidency.)

SIR JOSIAH STAMP, (President
of the Bank of England in the 1920's, the second richest man in Britain):
"Banking was conceived in iniquity and was born in sin. The Bankers own
the earth. Take it away from them, but leave them the power to create deposits,
and with the flick of the pen they will create enough deposits to buy it
back again. However, take it away from them, and all the great fortunes
like mine will disappear and they ought to disappear, for this would be
a happier and better world to live in. But, if you wish to remain the slaves
of Bankers and pay the cost of your own slavery, let them continue to create
deposits".

MAJOR L .L. B. ANGUS: "The
modern Banking system manufactures money out of nothing. The process is
perhaps the most astounding piece of sleight of hand that was ever invented.
Banks can in fact inflate, mint and unmint the modern ledger-entry currency".

RALPH M. HAWTREY (Former Secretary
of the British Treasury): "Banks lend by creating credit. They create the
means of payment out of nothing".

ROBERT HEMPHILL (Credit Manager
of Federal Reserve Bank, Atlanta, Ga.): "This is a staggering thought.
We are completely dependent on the commercial Banks. Someone has to borrow
every dollar we have in circulation, cash or credit. If the Banks create
ample synthetic money we are prosperous; if not, we starve. We are absolutely
without a permanent money system. When one gets a complete grasp of the
picture, the tragic absurdity of our hopeless position is almost incredible,
but there it is. It is the most important subject intelligent persons can
investigate and reflect upon. It is so important that our present civilization
may collapse unless it becomes widely understood and the defects remedied
very soon".

This
study on money is not copyrighted. It
may be reproduced in whole or in part for
the purpose of helping the American people.